Monday, 22nd September 2008 (350 views)

Gold and precious mineral exploration company Elray Resources has provided an update on its recent activities, claiming it has built "solid foundations" on which to initiate new projects and open up opportunities.

It has acquired several properties in North America and South East Asia, including a 15,000-hectare area in Cambodia, a country that the firm believes is one of the final frontiers for metal discovery.

"Given the strong bull market we have seen in gold recently, we are very pleased with the potential of these properties," remarked director Michael Malbourne.

The organisation has also expanded its portfolio into Mexico, obtaining the "highly prospective" Analhi project in Sinaloa State.

New staff have also been recruited to the firm's team and an "aggressive" work programme has been pencilled in for the coming months.

Meanwhile, Timmins Gold recently purchased the Picacho property near the San Francisco gold mine in northern Sonora, Mexico.

 

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